Zurich Insurance sees 14% rise in P&C insurance premiums
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Switzerland-based Zurich Insurance Group Ltd.’s property and casualty insurance segment reported a 14% increase in gross written premium to $11 billion in the first quarter, driven by strong growth in the commercial insurance line and higher premium rates, Reinsurance News reported. The insurer saw relatively higher natural catastrophe and weather-related losses in the first quarter, mostly driven by the U.S. winter storm Uri.
